Business
Interim results for the period ended 30 June 2025
Ascent Resources PLC reported interim results for the six months ended 30 June 2025, revealing a loss for the period of £1.281 million, with a basic and fully diluted loss per share of £0.34. Revenue increased to £78, compared to £1 in the same period last year. The company issued 215,274,654 new ordinary shares, including 89,552,239 to Locin Oil Corporation and 111,940,299 to ARB Energy Utah, LLC for interests in oil and gas leases. Ascent Slovenia Limited was awarded €4,990,976 plus interest in an arbitration against Geoenergo d.o.o. Cash and cash equivalents stood at £458,000. The company successfully raised £1.35 million via the issue of new shares at a placing price of 0.5 pence per new share. Disclaimer*
About this update from Ascent Resources Plc
[{"type":"text","content":"\n\n \n29 September 2025\nAscent Resources plc\n(\"Ascent\" or the \"Company\")\nInterim results for the period ended 30 June 2025\nAscent Resources Plc (LON: AST), the onshore US focused oil & gas company, (\"Company\") is pleased to report its interim results for the six months ended 30 June 2025.\nHighlights:\n· Completion of shareholder distribution with ring-fenced access to 41% of the net proceeds received in relation to a positive outcome of the Company's significant Energy Charter Treaty (\"ECT\") damages claim.\n· Conclusion of the hearing on merits and quantum in relation to the Company's significant ECT damages claim against the Republic of Slovenia.\n· Expansion of the Company's footprint in the United States of America and significant increase in exposure to proven reserves with acquisitions of interests in oil and gas with helium leases owned and operated by ARB Energy Utah LLC in Utah and leases owned and operated by Locin Oil Corporation in Colorado.\n· Positive decision received in Ascent's favour relating to long standing dispute with Geoenergo D.o.o. (in administration) relating to amounts Ascent is owed from historic production but which Geoenergo refused to previously pay to Ascent.\n· Board changes initiated, reprofiling of senior secured debt, implemented G&A cash cost reduction exercise and new funding secured.\nPost Period End Highlights:\nArbitration Outcome:\n· On 3 July 2025 the Company announced that the arbitration initiated in December 2024 against former Slovenian joint venture partner Geoenergo d.o.o. concluded in favour of the Company's wholly owned subsidiary, Ascent Slovenia Limited.\n· Ascent Slovenia Limited was awarded €4,990,976 plus interest from 19 January 2024.\n· Actual recovery of these funds depends on the finalisation of Geoenergo's administration process.\nLeadership Changes:\n· On 9 July 2025, David Patterson was appointed as Chief Executive Officer.\n· On 30 July 2025, Jean-Michel Doublet became Independent Non-Executive Chairman.\n \nShare Issuance on ...